Airbnb business plan

Institution Kisii University
Course Commerce/food and be...
Year 1st Year
Semester Unknown
Posted By MAKORI KERECHA
File Type docx
Pages
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Description

CHAPTER ONE: BUSINESS DESCRIPTION The business name will be Makori Airbnb located in Kisii Town adjacent to Kisii general hospital within CBD, Business address is P.O Box 158 kisii. The form of the business will be sole proprietorship so that all the profit is enjoyed by oneself. The starting capital will be 1.5 Million, other sources will be grants and loans. CHAPTER TWO: MARKETING PLAN The Airbnb business just like other service industries is an exciting and a competitive venture, expanding rapidly ranging from civil courts to huge investments of top Airbnb firms. Starting and running a Airbnb may be challenging and daunting, but a profitable Airbnb business venture. The marketing plan takes into cognizance the dynamic and competitive market nature unpredictable demands of the Customers. The initial and prudent steps will to increase the market share through advertisements and promotions to publicize the Airbnb services offered to attract more Customers. The specific target market population is the general public, people within the building, town residents, the nearby hospital employees, patients, students and lecturers. The main competitors of the business will be those other entities carrying out similar business activities within the market area. The proposed business aims to provide efficient and real-time services and quality services, the menu pricing of the services will be considerate and reasonable. CHAPTER THREE: ORGANIZATION AND MANAGEMENT PLAN Makori Airbnb is to operate under a competent management with the support of key personnel who shall be skilled and are resourceful in Airbnb service. These will include employees who are knowledgeable and experienced in business field. The Airbnb firm, therefore, shall require the services in Airbnb. The recruitment shall be carried out with regard to educational qualifications and training background for those aspiring for senior positions of responsibilities, duties, supervision and services. Other subordinate employment entry level may not require specific academic standards other than emphasis on good personality and ability to work with people cordially with hospitality holding all Customers with high regard. To improve quality of service to Customers, on-job and in-house training exercises shall be conducted from time to time to reinforce the needed and relevant business skills and knowledge. The promotion of an employee shall be based on merit, capability, performance, production and loyalty. The employees’ incentives will be based on overtime and salary increments and other monetary gifts depending on the prevailing cost of living. The business will operate legally under the government policy and county by Airbnbs and acquiring relevant business licenses, permits and other by-business. Amongst other supporting services the business shall seek are legal, banking and postal services. Health and safety mechanisms shall be applied and fire extinguishers shall be fitted. In addition to the postal services, the business shall consider the use of Information Communication Technology (ICT) by developing a fully functional website to reach a wide client market. CHAPTER FOUR: OPERATIONAL AND PRODUCTION PLAN Business shall need to invest in essential Airbnb equipment and tools, supplies and furniture appropriate for the modern Airbnb business and to ensure efficiency and comfort. The size and space of the room(s) to place necessary business equipment, to be considered for easy access whenever service calls. Running an Airbnb requires an attractive space to lure Customers, and plenty of Airbnb equipments and tools/ware for good and expeditious service delivery. The business will be situated in Kisii Town, occupying the ground floor of Mwangaza building, located opposite Kisii County General Hospital, adjacent to the public service vehicles/buses terminus. The location is within the plum central business district (CBD) of Kisii Town. It will serve the general public, people within the building, town residents. The whole idea was arrived at after thorough observation and viability study that there are no better optional Airbnb services within this vicinity aside from the temporary structures serving as Airbnb firm. Major Airbnb is located distant from this area. The locality is very accessible through good network of roads and inhabited with high population which consequently presents favorable Airbnb opportunities and good market for the Airbnb services. Other essential amenities and utilities that entice business establishment such as security, water and electricity are available. CHAPTER FIVE: FINANCIAL PLAN This is a concise statement that requires financial calculations and expected income. The business desired financing is to be inclusive of pre-operational costs which cover costs of renovating the premises, rent, purchasing and installation of equipment, insurance and licenses, legal procedures, water and electric utilities, cost of advertisements and promotions. Makori Airbnb will uphold the financial management policies and accurate book-keeping for day-to-day exigencies and for posterity of references of finance records. The books of the business accounts will be verified and audited regularly. The capital required to commence the business will be approximately Kshs 1,500,000 and expected to get a closing balance of approximately Kshs 5,000,000 by the end of the third year.
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